Before Foundry: A Portfolio Priced Through Wartime
Alon and Orion run a short term rental management company based in Israel, with apartments there and in Greece.
The before numbers need honest context. Through late 2024 and early 2025, with the war in Israel keeping inbound travel away, occupancy sat far below normal. Demand began returning in spring 2025. Then the twelve day war with Iran in June 2025 cancelled flights again, weeks before go-live. As Alon put it that fall, “all the companies canceled, all the flights canceled.”
How We Measure This
The comparison runs August 2025 through July 2026, the first full year, against the same twelve months a year earlier. The portfolio was ramping fast through the baseline year, so only five listings earned in nearly every month of it; the headline revenue number covers those five, and the occupancy and market-index measures cover the forty listings active in both windows. Whole-portfolio figures, 80 tracked listings today, are reported separately.
What We Did
Foundry went live in July 2025 with Jasper Ribbers managing pricing. Alon set the tone early: “we start from the point that we trust you.” The system Jasper built:
- Demand driven dynamic pricing, so rates climb automatically as bookings come in and ease when demand stalls
- Minimum stay structure by market: two night minimums in Israel, one night stays tested in Greece at premium rates
- Minimum price floors reviewed weekly and tuned separately for each country as conditions shifted
- Market Penetration Index tracking on every listing, with weekly price action on properties pacing behind
The Results
On the five listings earning throughout both years, revenue grew from €445K to €687K, up 55%, roughly €242K added on identical inventory. The broader signals are stronger still:
- Occupancy on the listings active in both years rose from 57% to 80%, through renewed disruption in early 2026
- The book’s revenue index against its market rose from 131 to 142: these listings earn 42% more than comparable ones around them
- Whole-portfolio revenue nearly tripled, €2.9M to €8.3M, as the team scaled to 80 tracked listings with every new unit priced from day one
“Even if we don’t see it yet and don’t feel it yet, because we have a lot of gap to close, we are very improved from month to month. The trend is very good.”
- Alon
Where They Are Now
The Greek side expanded from 23 to 35 apartments at the start of 2026, and new luxury contracts were signed in Israel. Alon and Orion are pacing expansion deliberately so the operations team can absorb it, with pricing handled from day one for every new unit.
In a market repeatedly interrupted by events outside anyone’s control, the portfolio now books most of its calendar at rates well above its market.